Current situation and the EU’s engagement with the Western Balkans; EU – African Union (AU) cooperation; EU’s efforts to preserve the legitimate trade relations with Iran; the start of the second term of President Maduro on 10 January 2019; Situation in Sri Lanka and Syria; Recent developments in Ukraine; Council conclusions on Myanmar/Burma, on Libya and on women, peace and security.

The links between the progress on rule of law/fundamental freedoms and the improvement in economic governance and the judiciary system.

The submitted 2018 Economic Reform Programmes (ERPs) of the Western Balkans and Turkey outline the medium-term macroeconomic and fiscal framework as well as structural reforms (affecting areas such as labour markets and education, energy, innovation and the business environment) to enhance competitiveness and long-term growth.

Participants recalled the commitment to set out a new set of targeted policy guidance to support efforts towards fulfilling the Copenhagen economic criteria. In this context, Participants agreed that the elements of the 2017 policy guidance which had not yet been fully implemented remained valid and needed to be addressed by policymakers in Turkey.

Lower external imbalances in light of high external funding needs constituting a substantial risk for the Turkish economy.

Focus monetary policy on the pursuit of price stability and ensure that the monetary policy stance is sufficiently tight to bring inflation back to the target band, anchor inflation expectations and increase trust in the local currency.

With a view to improving the business environment, strengthen the rule of law and the judiciary. The effective implementation of the amended law on bankruptcy.